impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …

household final consumption for 11 advanced countries over the period from 1970 Q1 to 2015 Q4. As a modelling strategy, we …-panel and country-level analyses. In this respect, we find that consumption is mostly explained by income and housing wealth is … consumption and stock wealth. The evidence also suggests a long-run cointegration relationship among consumption, income, interest …

We exploit a quasi-experiment to provide new evidence on the magnitude of the housing wealth effect. We estimate an … unexpectedly continued as a result of political bargaining. This source of price variation is ideal to identify housing wealth … effects since it is local and unrelated to variation in macroeconomic conditions. Using a household data set with granular …

elasticity among purchasers of new cars equal to 0.5. Converting our estimate to an aggregate MPC on cars, it is however less … housing wealth e.ect. Stockholm's smaller city airport was expected to close in 2011 but its operating contract was … prices close to the airport. Using a household data set with granular geographic information on primary residence, we find an …